Tag Archives: Li Shufu

Chinese EV Trade Wars Hits Volvo Cars

Posted on 14 November 2024 by Ken Zino

Volvo Cars (VOLCAR B:STO) today announced the selling of its 30% stake in Lynk & Co to Zeekr, a transaction representing a consideration of RMB 5.4 billion (~ SEK 8 billion). The transaction will be paid in cash, with 70% of the amount paid at closing, and 30% plus interest paid one year after closing. The transaction is expected to close during the first quarter of 2025. Volvo Cars is currently trading near its all time low.

The transaction involves Volvo Cars (China) Investment Co., Ltd, an indirect subsidiary of Volvo Car AB, selling its share in Lynk & Co Automotive Technology Co., Ltd to Zhejiang Zeekr Intelligent Technology Co., Ltd, an indirect subsidiary of Zeekr Intelligent Technology Holding Limited. Continue reading →

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Chinese take 10% stake in Daimler. Unwelcome?

Posted on 27 February 2018 by Ken Zino

Translation: the Germans didn’t seek this, and it could turn out to be a complicated ménage à trois with lots of conflict over the loot. Continue reading →

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